National Bank of Kuwait announced the launch of “Weyay”, the first fully digital bank in Kuwait, made in Kuwait for the youth of the country.
NBK conducted extensive research about the youth segment between the ages of 15 and 24 years. Data showed that the next generation of Kuwaiti youth has an independent and a highly ambitious personality, and therefore, the most advanced existing banking services only meet their minimum financial needs. “Weyay”, as the name suggests, would play the role of that catalyst in their lives.
80% of the youth customers are looking for tools that help them set personal saving goals and track their money. Many of those customers use external apps or methods outside of their regular banking app to achieve this. Therefore, through “Weyay”, the bank seek to provide an integrated package of advanced products and services that help the youth better track and organize their expenses, thus contributing to increasing their ability to accumulate savings, as well as provide them with the appropriate investment channels to grow these savings.
In designing “Weyay” products and services, NBK took into consideration that they suit the new bank’s digital character and the nature of its customers from the youth generation. Account opening is fully digitally without any of the usual paperwork. In Addition, the customer can choose the color of his card and can use it immediately, even before it is received, and money transfer is done in innovative ways that are much faster and easier.